We live in an age of consumerism where it is common for people to desire material items that they believe will make them feel and look better. The explosion and sustained rise of social media have directed the eyes of many individuals towards the world of luxury designer fashion. Depending on who you follow on social media, your timelines may be flooded with people sporting multiple luxurious or high end designer clothing and accessories. In any given photo, someone who seems relatable may be wearing as much as $10,000 USD worth of items. "How on earth do they afford these things and how can I?" you may ask. Today is your lucky day because I am here to tell you how. These are seven (7) ways today's fashionistas afford high end designer items and so can you.
1. Having disposable income. Simply put, some people just have enough money to outrightly purchase these items. There are folks earning sufficient incomes or who own profitable businesses and investment instruments that allow them to comfortably buy designer items. These may also be people who are free from burdensome debt and the responsibility of financially supporting others. If owning designer items is a desire of your heart, then consider creating a wishlist and adding them to your spending plan (aka your budget). If your current income does not seem sufficient to achieve this, then find ways to increase or buttress your earnings while decreasing your debt burden.
2. Getting them as gifts. This aspect of designer item ownership is not often highlighted and for several reasons. Nonetheless, these items may be gifted by loved ones to celebrate special occasions like birthdays, anniversaries, graduations, promotions, child births or for "just because" moments. Don't be afraid to share your wishlist with loved ones you know would support your interests. They may very well be listening and watching with intentions to make your designer dreams come true. Gifting may also be carried out by the brands themselves, giving items to influencers as a part of their marketing campaigns.
3. Saving for them. For those who don't readily have sufficient funds to comfortably afford luxury goods, saving over a period of time is a viable option. Many designer buffs have admitted to saving for their first luxury purchase. Owning, loving and using the items have made them appreciate the process of saving for them. I encourage you to consider this option. Open a specific savings or even investment account solely to fund your desired designer life. Heck you could just get a piggy bank and drop in your "coins" and let them build up over time. Whatever method you choose, be guided by your wishlist and set timeline goals that lead to your desired outcome.
4. Going into debt. I present this method to you as objectively as I can. It is by far the least encouraged method and one that may leave you riddled with guilt and financially destroy you. Sounds dramatic, I know. However, the truth is that many folks we see flaunting luxurious designer apparel and accessories have purchased them with the use of credit cards or taking out loans. This option may be beneficial for someone who is in the business of fashion, wherein the return on investment of owning the item far outweighs the burden of debt it incurs. I am not a certified financial advisor but I would advise against this as an option for the average person.
5. Renting/Borrowing/Swapping. That's right; not everything everyone is wearing is owned by them. Websites like Rent the Runway and Style Lend allow people to rent a wide variety of designer clothing, bags, shoes and other accessories for a specified time. This is one of my favorite options for being able to access and enjoy designer items through a sustainable medium. Websites may also offer subscription services that allow members to experience different items each month. By spending a fraction of the price, you can step out in style and on trend at any time. Should you fall in love with an item you've rented, purchasing the item at a lower price than MSRP is also an option. Additionally, if you own designer items, taking the risk of renting them out to others may prove quite profitable for you. Borrowing from a family member and friend especially for specific occasions is another way people get designer items. Swapping items with a friend is also awesome because it allows you both to be able to enjoy an item that would have otherwise been tucked away or gathering dust in your respective closets.
6. Selling what they already own. Not every designer purchase is intended to be a forever piece and sometimes people change their minds and preferences. This is especially true for influencers and those who are mainly into trends. People buy, wear and enjoy designer items then put them up for sale. Depending on the item and condition it is in, selling it may yield either recovery of the full price, a profit or a loss. Regardless, money can be earned and put towards future or more desired purchases.
7. Buying items on sale, preloved or thrifting. This is a favorite of mine, especially for designer clothes. I love going sale hunting in department stores and outlets(future post to come on how to successfully do so). Though I have not yet purchased preloved designer pieces on popular websites like The Real Real, Fashionphile or Vestiaire Collective, I do get excited at the prospect of scoring an awesome piece at significant discount. Thrifting is a pretty controversial ethical topic these days but reader be ware- it is a means of acquiring luxury designer goods at affordable prices.
There you have it! The holy grail methods of affording designer bags, clothes, shoes and accessories. I will throw in a bonus which may serve you well: Patience! It is truly a virtue in the acquisition of luxury. Patience will save you a lot of money, regret and sometimes heartache when making big purchases. Be patient: be willing to wait until you build up sufficient disposable income. Be willing to wait for a sale. Be willing to wait until there is a price drop on a pre loved website. Be willing to ask for and wait for a gift. At the end of it all, enjoy the process and the items.
Stay fashionably well,
The Fashion Findess
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